Office of Financial Aid

Summer '08 Financial Aid Information

If you plan on attending the summer 08 semester
please click here
for information about financial aid.

Chicago-Kent Spring Disbursement

Disbursement Process: Step-by-Step

All loan funds, federal and private, are sent
directly to the school according to the disbursement schedule
listed below.

1. When we receive the funds, we must verify
that you are eligible to receive the funds. This process
takes 1-3 business days. When the funds are released

2. The funds are then credited to your tuition
account. You will receive an email from the Bursar's Office
informing you that billing activity has occurred.

3. If a credit balance exists after the funds
have been credited, the Bursar's Office generates a refund
check for you. This process takes 5-7 business days.

4. The Bursar's Office will then notify you
when the check is ready to be picked up.

If you have any questions regarding the financial
aid funds that have been credited to your account, please
contact the Office of Financial Aid.

If you have any questions regarding the status
of your refund check or charges on your account, please
contact the Bursar's Office at 312-906-5160

Spring 2007 Disbursement Schedule

Law Students

Disbursement: January 14, 2008

Business Students

Disbursement: February 25, 2008

MPA Students

Disbursement: January 22, 2008

Graduate PLUS Loan Repayment Answers

Question from Student:

I received a letter from my lender saying that the first
payment on my Graduate PLUS loan is due in March. Is this
true?

Answer:

Many students are receiving notification from their lenders
indicating that the first payment on their Graduate PLUS
Loan is due within the next few months. One of the terms
of the Graduate PLUS loan is that repayment begins 60 days
after the last disbursement of the loan. The last disbursement
for most studentsí Graduate PLUS loan for the 2006-2007
academic year is in mid January. For this reason, some lenders
are automatically sending out notification that repayment
begins within the next few months.

The lenders on the Office of Financial Aidís preferred
lender list are placing our students into in-school deferment
status in the spring term once they receive verification
of enrollment of at least half time for the spring term.
Enrollment verification is automatically sent out by the
university several times a semester. At IIT half-time status
is enrollment is 6 credits or more. As long as enrollment
in at least 6 credits is maintained repayment will not begin
until after graduation.

In order to be sure that your loan is placed into in-school
deferment status it is advised that you contact your lender
to verify before the end of January. Please keep in mind
that these terms are specifically for the lenders on our
preferred lenders list. If you did not choose one of the
lenders on our preferred lender list, please contact you
lender as soon as possible to find out if they offer an
in-school deferment option.

Question from Student:

If I do not attend class during the summer term will I
have to make payments during the summer?

Answer:

The lenders on the Office of Financial Aidís preferred
lender list are automatically granting our students in-school
deferment status over the summer term. In order to be sure
that your loan is placed into in-school deferment status
during the summer it is advised that you contact your lender
to verify before the end of the spring term.

Please keep in mind that these terms are specifically for
the lenders on our preferred lenders list. If you did not
choose one of the lenders on our preferred lender list,
please contact you lender as soon as possible to find out
if they offer an in-school deferment option for the summer
term.

Perkins Loan Promissory Notes

Students awarded the Perkins Loan must see
the Bursar in room 290 to sign the Perkins Loan Promissory
Note once contacted by the Student Loan Office. No funds
will be applied without this important document on file.

REFUND CHECKS

Refund checks are generated by the Bursar's Office
and are available to be picked up at their office
(Room 290) approximately 5-7 business days after a
credit has resulted in a student's account.

The Bursar's Office will send the student an email
when a refund check is available.

Free Credit Report

Did you know that you are now able to
receive a free credit report once every 12 months?
We encourage students to review their credit reports
annually to check for inaccuracies and identify any
suspicious activity.

To receive your free credit report,
please visit the following link: http://www.annualcreditreport.com.
This central site allows you to request a free credit
file disclosure, commonly called a credit report,
once every 12 months from each of the nationwide consumer
credit reporting companies: Equifax, Experian and
TransUnion.

Please be aware that other sites may
advertise free credit reports, but this is the only
site that is sponsored by the federal government and
the three nationwide credit reporting agencies. Other
sites may charge fees.